Number of flashcards in this category: 40.
1.	multiple buying influence		multiple people have an influence on a purchase decision in a company
2.	joint venturing		domestic firm partners with foreign firm
3.	intermediary		specializes in functions aside from production
4.	mktg concept		an organization goal is to satisfy customers - at a profit
5.	licensing		selling the right to use a process, trademark, patent or other right by another company
6.	mktg strategy vs. mktg plan		plan has time-related details; strategy is over arching and describes a marketing mix (big picture of what firm will do in a market)
7.	market potential		what a WHOLE market segment might buy
8.	opinion leader		Forward thinking, knowledgable people who influence decisions on a product category. (word of mouth)
9.	mktg program		Multiple marketing plans, into one whole program.
10.	generic versus product market		generic: "entertainment seeking" very general, might choose various products to satisfy this need product: TVs, cruise lines
11.	single, multiple or combined target market approach		1. single: one target 2. multiple: several targets, treat separately. 3. combined: mix multiple into one broad mktg strategy
12.	macro-mktg		directs flow of goods and services that matches the objectives of society
13.	management contracting		You provide only the management skills, others do the production and distribution.
14.	extensive, limited, routinized problem solving		extensive: high purchase effort low: some effort, but not a lot routinized: habitual, no effort involved
15.	requisition		a request to buy something
16.	factor method		A way to forecast sales by basing it on factors. (ex: car sales will drop because the FACTOR of recession means less money)
17.	new-task buying		purchase of a new need, requires more thinking and setting up routine
18.	customer equity		expected earnings stream of a firm's current and prospective customers over a period of time
19.	financing		providing the necessary cash and credit to do complete the mktg process
20.	segmenter vs. combiner		Safer to be segmenter. Can't combine too much.
21.	mktg department era		all mktg activities under one department to improve short-run policy planning and integrate firm activities
22.	economies of scale		as you produce more a product, the cost to make each one goes down
23.	trend extension		extending the trends of the past
24.	breakthrough opportunities		opportunities that are hard for competitors to copy and "share on the wealth"
25.	market development		increase sales by selling present products in new markets
26.	sales forecast		an estimate of how much an industry or firm hopes to sell to a market segment (usually lower than what they forecast)
27.	contract manufacturing		Turn production to foreign companies while you maintain the distribution, product design, etc. (rest of mktg process)
28.	qualifying dimensions vs. determining dimensions		qualifying: needs to have money, need for a car, license (but these don't determine what kind of car gets bought) determining: safety, speed
29.	innovation		the development and spread of new ideas, goods and services
30.	economic system		a way to distribute scarce resources
31.	customer satisfaction		extend to which a company fulfills a consumer's needs and desires
32.	modified rebuy		review some of the rebuy order to optimize
33.	multinational corporations		firms that have a direct investment in several countries
34.	psychographics		"lifestyle analysis"
35.	wholly owned subsidiary		a separate firm owned by a parent company
36.	reciprocity		If you buy from me, I'll buy from you.
37.	marketing		attempting to anticipate customer or client needs and direct the flow of goods from producer to customer to client
38.	customer value		the difference between the benefits a customer sees, and the costs of obtaining those benefits (how much the customer values an offering?)
39.	mktg company era		whole company guided by marketing concept; creation of long range plans
40.	straight rebuy		routine repurchase